Automatic Data Processing, Inc. (NASDAQ:ADP) CEO Sells $13,932,520.16 in Stock

Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) CEO Carlos A. Rodriguez sold 58,864 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $13,932,520.16. Following the transaction, the chief executive officer now owns 44,426 shares of the company’s stock, valued at $10,515,189.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Automatic Data Processing Trading Up 1.0 %

Shares of Automatic Data Processing stock opened at $244.30 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. Automatic Data Processing, Inc. has a 52 week low of $192.26 and a 52 week high of $261.59. The stock has a 50 day moving average price of $237.15 and a two-hundred day moving average price of $223.82. The stock has a market capitalization of $101.51 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 2.50 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADPGet Rating) last announced its earnings results on Wednesday, July 27th. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.02. The company had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. Automatic Data Processing’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 8.05 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $4.16 annualized dividend and a dividend yield of 1.70%. Automatic Data Processing’s payout ratio is 59.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADP shares. Morgan Stanley raised their target price on Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Mizuho raised their target price on Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Barclays raised their target price on Automatic Data Processing to $280.00 in a research note on Tuesday, August 9th. Wolfe Research decreased their target price on Automatic Data Processing from $235.00 to $210.00 in a research note on Wednesday, July 20th. Finally, Cowen raised their target price on Automatic Data Processing from $225.00 to $230.00 in a research note on Thursday, July 28th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $235.92.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Delos Wealth Advisors LLC boosted its position in shares of Automatic Data Processing by 588.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 124 shares of the business services provider’s stock valued at $31,000 after buying an additional 106 shares during the last quarter. Crewe Advisors LLC bought a new stake in Automatic Data Processing during the first quarter worth $28,000. Hexagon Capital Partners LLC bought a new stake in Automatic Data Processing during the second quarter worth $26,000. Wellington Shields & Co. LLC bought a new stake in Automatic Data Processing during the second quarter worth $29,000. Finally, Core Alternative Capital lifted its holdings in Automatic Data Processing by 761.1% during the first quarter. Core Alternative Capital now owns 155 shares of the business services provider’s stock worth $35,000 after acquiring an additional 137 shares during the period. Hedge funds and other institutional investors own 79.06% of the company’s stock.

About Automatic Data Processing

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Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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Insider Buying and Selling by Quarter for Automatic Data Processing (NASDAQ:ADP)

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